Broadway assets reach milestone

With a $264 million increase since the second quarter of 2008, assets at San Antonio-based Broadway Bank have surpassed $2 billion, the bank’s management said in a news release.

Twenty percent deposit growth over the prior, half-year period was the main driver of the increase but the bank’s rejection of sub-prime lending and risky derivatives in its business portfolios also played a role, officials said.

Broadway Chairman and CEO Jim Goudge said the bank is “confident that our sound and responsible lending and investment philosophy will help strike the proper balance in meeting our goals and sustaining growth.”

For now, with all the problems other banks have faced over the past year, Goudge said he was pleased to have hit the $2-billion-asset milestone.